News report ₿ Crypto 🌍 United States

Bill Miller IV Targets $1.6 Million Bitcoin Valuation Based on Gold Parity

Bill Miller IV projects a $1.6 million price target for Bitcoin, asserting that the asset is currently mispriced relative to gold's $31.8 trillion market cap despite macroeconomic headwinds.

📅 September 22, 2026 🕐 1 min read

2 assets impacted (Crypto, Commodities). Net bias: 1 Bullish, 0 Bearish, 1 Neutral. Strongest signal: BTC ↑ 8/10 (60% confidence).

📊 Affected Assets (2)

BTC

Bullish 🤖 60%

🗓️ Long-term 🌍 GLOBAL · Explicit

Bill Miller IV argues Bitcoin is undervalued versus gold, putting intrinsic value at $1.6 million per coin.

XAU/USD

Neutral 🤖 55%

📅 Short-term 🌍 GLOBAL · Explicit

Gold's market cap and recent 18% annual gain are referenced as the benchmark for Bitcoin's valuation comparison.

🎯 Key Takeaways

Bitcoin's current market cap represents only 5% of gold's $31.8 trillion valuation.
Miller views Bitcoin as a hedge against fiscal instability and ballooning government deficits.
The asset class continues to show resilience, rising 6% despite a failed Senate crypto bill and a Fed rate hike.

📝 Executive Summary

Miller Value Partners CIO Bill Miller IV argues that Bitcoin remains significantly undervalued, suggesting an intrinsic value of $1.6 million per coin if it reached gold's market capitalization. Despite recent regulatory setbacks and Federal Reserve rate hikes, Miller views Bitcoin as a superior store of value compared to gold due to its supply transparency and portability.

❓ FAQ

Why does Bill Miller IV believe Bitcoin is worth $1.6 million?

Miller calculates this figure by applying gold's total market capitalization to Bitcoin's fixed supply, arguing that Bitcoin's superior technical properties justify parity with gold.

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